International law firm Freshfields Bruckhaus Deringer has advised oil production company Rosneft on its agreement with BP to form a strategic global alliance.
Following completion of this agreement, Rosneft will hold 5 per cent of BP’s ordinary voting shares in exchange for approximately 9.5 per cent of Rosneft’s shares. Rosneft and BP have also agreed to explore and develop three license blocks – EPNZ 1,2,3 – on the Russian Arctic continental shelf.
Sebastian Lawson in London and Sergei Diyachenko in Moscow led the Freshfields team. They were assisted by Sam Brown (associate) in London and Alexey Tokovinin (senior associate) in Moscow. Securities law and market disclosure advice was provided by Sarah Murphy (partner) and Doug Smith (senior associate) in London and Vladislav Skvortsov (counsel) in Moscow.
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